Business community jittery over government crisis

(CNS): Despite reassurances from former deputy premier André Ebanks and Governor Jane Owen that the government is still functioning as normal after three Cabinet ministers and a parliamentary secretary resigned from the UPM government on Thursday morning, the business community has reacted with concern. The Chamber of Commerce said the resignations amounted to a “seismic political shift”, and the reasons they gave for their departure raised “grave concerns”.

The resigning members said their former UPM colleagues were putting “self-interest above the country’s interest”, which Chamber President Joanne Lawson said had implications for business stability and international partnerships.

“This moment demands clear and steadfast leadership. As our country faces critical decisions on matters such as funding major projects, the upcoming referendum, and sustaining our international reputation, stability is paramount,” Lawson said in a statement posted on the Chamber’s website. “The business community and our international partners are watching closely, and we cannot afford to let uncertainty damage confidence in the Cayman Islands.”

The Chamber warned that the government’s instability could impact local businesses immediately and that many are delaying or reconsidering investment decisions until there is clarity on governance. Lawson noted that this period of uncertainty “poses risks for our entire community, threatening to slow progress on crucial issues and diminish the confidence of local and international stakeholders alike”.

The MPs who resigned described a deterioration in “due process” and increased risks of “erroneous decision-making and reputational damage”. In light of this, the Chamber wants to see swift action to restore confidence in the government, protect the economy, and maintain a stable environment for business.

“We cannot afford a period of prolonged uncertainty,” Lawson stated. “The Chamber will continue to support the business community and push for a government that prioritises the well-being and prosperity of all Caymanians.”

During the press briefing this morning, Ebanks, who was ther financial services minister before his resignation, said this issue was a matter of disagreement on “principle and policy” among the executive and it in no way impacted the country’s business, including the offshore services sector. He stressed that the administrative arm of government was functioning as normal.

The governor said she was in discussions with the premier and would provide a further update for the public on the situation as soon as possible. “In the meantime, our public service continues to discharge their duties to ensure continuity of service to the public,” she added.

Ebanks and his colleagues said that poor governance, an area of the governor’s responsibility, was a major factor in their decision to resign. CNS has asked her office for a comment about the allegations that MPs are acting in their own interest and not that of the country. We are awaiting a response.

Ebanks also accused his former UPM colleagues of being dysfunctional and disorganised, with a lack of professionalism, erroneous decision-making, and a lack of equitable transparency. he said there had been an erosion of due process, and there was an atmosphere in caucus that undermined objective analysis and respectful exchanges of views, as well as unchecked disrespect, particularly towards women.